But Justice Marcus Smith Smith dismissed his application and instead reviewed the whole staging scheme, which included two lots of £7.5m by 30 March and 31 May.

He said Oyston had failed to progress the sale of assets, which had prejudiced Mr Belokon, and the Court of Appeal had now dismissed his application to overturn the original court judgement from last November.

Owen was ordered to immediately pay up the £25m or face the consequences of enforcement action being taken to make him sell his assets.

That could potentially mean the football club going into receivership, although Belokon’s legal representative told the judge his client he would not pursue action against the club.

It comes after the Oystons were ordered to buy out former director Belokon for £31.27m back in November after it was found they had illegitimately stripped the club of cash following promotion to the Premier League in 2010.

The judge found Belokon had been unfairly prejudiced and the club was put up for sale four days later.

Although Oyston still faces a mammoth bill, he remains determined to keep hold of the football club at any cost.

So much so, his relationship with his son Karl has deteriorated to the extent he decided to remove him as chairman and director last week.